The Asian home healthcare market is expected to reach USD 62.32 billion by 2020 from USD 39.07 billion in 2015, at a CAGR of 9.8% from 2015 to 2020. This market is segmented on the basis of products, services, telehealth, and countries. The Asian home telehealth market is expected to grow at the highest CAGR in the coming five years.
The report ” Asian Home Health Care Market by Product (BP & Heart Rate Monitor, Ovulation Kit, HIV Test, ECG, EKG, EEG, Hearing Aids, Ventilator, Cane, Walker, Wheelchairs), Services (Rehabilitation, Skilled, Hospice, Palliative Care), & Telehealth – Forecasts to 2020″, analyses and studies the major market drivers, restraints, opportunities, and challenges in the emerging nations
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Key Market Drivers of Asian Home Healthcare Market
1. Growing geriatric population
2. Rising incidences of chronic diseases
3. Technological advancement
4. Increasing healthcare costs
5. Government initiatives to promote home healthcare
Market Restraints of Asian Home Healthcare Market
1. Limited insurance coverage
2. Patient safety concerns
3. Low awareness about home healthcare
Opportunities in Asian Home Healthcare Market
1. Shift towards telehealth
2. Untapped developing regions in Asia
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Major factors contributing to the growth of the Asian home healthcare market include the rapidly growing aging population, increasing incidences of chronic diseases, growing demand for affordable healthcare delivery systems due to increasing healthcare costs, technological advancements, and government initiatives to promote home healthcare. In addition, rising awareness regarding the convenience and cost-effectiveness of home healthcare products & services and the increasing adoption of telecommunication in healthcare are factors contributing to the growth of this market.
However, lack of awareness about home healthcare, limited insurance coverage, and patient safety concerns are factors that may hinder the growth of this market during the forecast period.
Various initiatives are being taken by governments in Asia to promote home healthcare. In this regard, in August 2014, the National Health and Family Planning Commission (NHFPC) circulated the first detailed policy in China on the measures of promoting remote medical services among medical institutions. This provided some of the basic rules for telemedicine in China.
China and India are projected to be the fastest-growing regions in the Asian home healthcare market from 2015 to 2020. Growth in these markets can be attributed to the increasing adoption of innovative techniques, increasing disposable income levels, expansion of home healthcare companies in the Asian region, emergence of home healthcare service providers especially in India, and the increasing need for affordable healthcare delivery systems.
Apart from the comprehensive geographical analysis, product analysis, and market sizing; the report also provides a competitive landscape that covers the growth strategies adopted by industry players in the last three years. In addition, the company profiles comprise basic views on the key players and their product portfolios, and recent developments.
The above-mentioned market research data, current market sizes, and forecast of future trends will help key players and new entrants make informed decisions regarding product offerings, geographical focus, changes in strategic approach, R&D investments for innovations in products and technologies, and levels of output in order to remain successful.
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Reasons to Buy the Asian Home Healthcare Market Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms garner greater market shares. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The Asian Home Healthcare Market report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios of the top players in the Asian home healthcare market. The report analyses this market by product, service, telehealth, and country
• Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the Asian home healthcare market
• Competitive Assessment: In-depth assessment of market strategies, geographical and business segments, and product portfolios of the leading players in the Asian home healthcare market
• Market Development: Comprehensive information about the lucrative emerging markets. The report analyses the market for various home healthcare products, services, and telehealth across countries
• Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the Asian home healthcare market
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